This page reflects GDS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — GDS
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $31.00 (4.38 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$31.00
Nearest expiry
Expected Move
±$1.47
±4.2%
Days to Expiry
4
Calendar days
Total Call OI
9,403
Nearest expiry
Total Put OI
1,344
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$35.38
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$36.00
6/18/2026, 11:14:40 PM
2026-07-17
$31.00
7/17/2026, 11:15:39 PM
2026-08-21NextUpdated
$31.00
8/17/2026, 11:15:28 PM
2026-09-18
$32.00
8/17/2026, 11:15:28 PM
2026-12-18
$35.00
8/17/2026, 11:15:28 PM
2027-01-15
$30.00
8/17/2026, 11:15:28 PM
2027-03-19
$20.00
8/17/2026, 11:15:28 PM
Selected expiration: 2026-08-21 at max pain $31.00.
GDS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22
0
1236000
1236000
23
0
1098900
1098900
24
0
968100
968100
25
0
837500
837500
26
200
715900
716100
27
400
597300
597700
28
600
483500
484100
29
1000
379900
380900
30
1400
281000
282400
31
11400
196700
208100
32
91200
117800
209000
33
181400
52800
234200
34
307000
21200
328200
35
447200
2000
449200
36
928000
1100
929100
37
1618400
600
1619000
38
2711400
100
2711500
39
3870600
0
3870600
40
5045300
0
5045300
41
6228700
0
6228700
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.